CHART OF THE DAY: The 5% Of American Households That The Fiscal Cliff Debate Is Really Abouthttp://www.businessinsider.com/the-tax-debate-about-5-of-us-households-2012-12/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Fri, 09 Dec 2016 08:53:51 -0500Lucas Kawahttp://www.businessinsider.com/c/50e31f906bb3f7fb05000002Bill STue, 01 Jan 2013 12:40:32 -0500http://www.businessinsider.com/c/50e31f906bb3f7fb05000002
I've yet to see a tax that didn't filter down to the public - either by expansion of the tax base or through inflation. Furthermore, I am quite confident in the elite's ability to build the extra taxes they pay into the goods and services that they sell to the rest of us. The fiscal cliff is all about continued borrowing, not getting a handle on out of control spending. It is not going to be pretty when the system collapses.http://www.businessinsider.com/c/50e2dc88eab8eaa420000001Gringo Bush PilotTue, 01 Jan 2013 07:54:32 -0500http://www.businessinsider.com/c/50e2dc88eab8eaa420000001
Maybe if we hadn't blown $1.5 Trillion on the Texan's military adventures,,, we just might not be in this mess.http://www.businessinsider.com/c/50e2db9f69bedd8903000014Gringo Bush PilotTue, 01 Jan 2013 07:50:39 -0500http://www.businessinsider.com/c/50e2db9f69bedd8903000014
See an optometrist.http://www.businessinsider.com/c/50e2db1feab8ea8510000042Gringo Bush PilotTue, 01 Jan 2013 07:48:31 -0500http://www.businessinsider.com/c/50e2db1feab8ea8510000042
Yep ... And Grover Norquist is the classic example of a black bag (white envelope) briber, hiding under the veil of a Congressional lobbyist. This soft handed dude needs to be in the slammer with Jack Abrahamson and the bug killer, Tom Delay.http://www.businessinsider.com/c/50e20fc7eab8ea776f000014Please educate yourselvesMon, 31 Dec 2012 17:20:55 -0500http://www.businessinsider.com/c/50e20fc7eab8ea776f000014
<a href="http://www.zerohedge.com/news/2012-12-26/guest-post-structural-endgame-fiscal-cliff" target="_blank" rel="nofollow" >http://www.zerohedge.com/news/2012-12-26/guest-post-structural-endgame-fiscal-cliff</a>http://www.businessinsider.com/c/50e20f716bb3f7a10a000018Free John CorzineMon, 31 Dec 2012 17:19:29 -0500http://www.businessinsider.com/c/50e20f716bb3f7a10a000018
Dealing in facts is always dangerous but here goes.
The U.S. income tax is highly progressive; most Federal taxes are paid by a minority of the citizens. The top 1% of taxpayers reported almost 17% of all taxable income and paid 37% of all income taxes. The top 5% reported 32% of all income and paid 59% of the taxes, and the top 10% earned 43% of the income and paid 70% of the taxes.http://www.businessinsider.com/c/50e20ab269bedd7923000001David W. YoungMon, 31 Dec 2012 16:59:14 -0500http://www.businessinsider.com/c/50e20ab269bedd7923000001
Incorrect statement Lucas that the Fiscal Cliff is only about not taxing small businessmen and businesswomen who have worked hard enough for the last 20 years to make $400,000 in gross income. Capital spending in small businesses comes from Cashflow, not bank loans my sophomoric friend. Cut their incomes, you cut their capital outlays and new hiring. Econ 101. It is about the Fiscal Solvency of the United States, young man. We are already over the Solvency Cliff which based on your lack of understanding of the problem, would be useless to explain. Spending must be curbed by 3 times any revenue increases that may come out of a deal in 2013. No deal in 2012. Maybe when you have worked in the private sector, running a business with a real-life payroll, for the 43 years that I have, you will know what you write about. The Obama Depression is here, U.S. economy peaked in July of this year. See me in aother year, you will know of what I speak then.http://www.businessinsider.com/c/50e1f5b26bb3f79059000010clickbot2Mon, 31 Dec 2012 15:29:38 -0500http://www.businessinsider.com/c/50e1f5b26bb3f79059000010
This is simply class war directed against a handful of people to grab populist headlines. The amount of revenue to be gained against projected mass entitlement spending is insignificant on an annual basis. There is no reason at this time to increase taxes in either real or nominal terms. All the money you have claim to is printed by the USG and raising higher taxes is pointless political drama.http://www.businessinsider.com/c/50e1ec9c6bb3f77348000018john1066Mon, 31 Dec 2012 14:50:52 -0500http://www.businessinsider.com/c/50e1ec9c6bb3f77348000018
"The Global economy is in bad shape because of Fraud and Corruption in NYNY and London. Until these financial centers and all their leaders are brought to justice and debt the foisted on the world forgiven the world will get nastier and more violent."
And the amount of money held by the top wealth holders gives them the power to buy politicians to get the laws passed that make all that activity legal.
Money is power and the many of the folks on top do not care about playing the game. They only care about winning. And they will get the laws changed to favor them.http://www.businessinsider.com/c/50e1eaadecad045d59000006Bob123Mon, 31 Dec 2012 14:42:37 -0500http://www.businessinsider.com/c/50e1eaadecad045d59000006
Democrats and Republicans have just reach an epic deal to save America.
The total revenues raised in a decade is not even enough to cover the deficit for 2013 alone. We still have to keep some "stimulative spending" in the same deal.
I am so proud of America.http://www.businessinsider.com/c/50e1e9d069bedd484e00000eRon WilsonMon, 31 Dec 2012 14:38:56 -0500http://www.businessinsider.com/c/50e1e9d069bedd484e00000e
Lucas, what % of the total tax bill does that 5% already pay? 70%. How about a more complete analysis homie.http://www.businessinsider.com/c/50e1e82aecad04e55400000fchris hauserMon, 31 Dec 2012 14:31:54 -0500http://www.businessinsider.com/c/50e1e82aecad04e55400000f
i'dliketoseethesmallprintplease.http://www.businessinsider.com/c/50e1e4cceab8ea511b00001aAqua BuddhaMon, 31 Dec 2012 14:17:32 -0500http://www.businessinsider.com/c/50e1e4cceab8ea511b00001a
The Cliff is a simple case of misdirection by the elected class. The Global economy is in bad shape because of Fraud and Corruption in NYNY and London. Until these financial centers and all their leaders are brought to justice and debt the foisted on the world forgiven the world will get nastier and more violent.
I expect the current person sitting the white house to continue doing what he is told by the people that paid his bills and bribed the system to make him king!
The world is not buying anything America sells anymore not even the MSM's lies!